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Amex Business Gold vs Bank of America Premium Rewards Elite: Which Is Better In 2026?
July 1, 2025
Editor's Picks
The American Express® Business Gold Card is best for business owners with fluctuating expenses across categories like advertising, shipping, and technology.
The Bank of America® Premium Rewards® Elite credit card is ideal for frequent travelers and diners, particularly those who are Bank of America Preferred Rewards® members.
American Express® Business Gold Card Breakdown
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Why We Like It
Here’s a breakdown of why we’re fans of the American Express® Business Gold Card (See Rates & Fees).
- It automatically optimizes rewards based on your top spending categories, so you don't have to track them.
- The card offers flexible purchasing power that can adapt to your business's changing needs.
- It comes with a suite of travel and purchase protections that provide peace of mind for business expenses. Terms Apply.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
Pros
- Points can be transferred to a variety of airline and hotel partners, offering flexible travel redemption options.
- The card has no foreign transaction fees, making it a cost-effective option for international business purchases and travel.
- Cardmembers receive access to The Hotel Collection, which includes benefits like room upgrades and property credits at participating hotels. Terms Apply.
Cons
- The card has a high annual fee that may be difficult for some businesses to justify.
- Significant spending in the card's bonus categories is required to make the annual fee worthwhile.
- Adding employee cards to the account incurs additional fees.
Bank of America® Premium Rewards® Elite Breakdown
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Why We Like It
Here’s a closer look at what makes the Bank of America® Premium Rewards® Elite card a strong contender.
- The card offers generous annual statement credits for both travel and everyday lifestyle spending.
- Cardholders receive a comprehensive set of travel benefits, including airport lounge access and perks with hotels and car rentals.
- The rewards program is particularly lucrative for existing Bank of America customers who are part of the Preferred Rewards® program.
Pros
- Offers annual statement credits to help cover costs for airline incidentals and select lifestyle services.
- Cardholders get a strong package of travel perks, including complimentary airport lounge access and benefits with luxury hotel and car rental partners.
- Points can be redeemed flexibly for travel, cash back, and more, and they do not expire as long as the account remains open.
Cons
- A major drawback is the lack of airline or hotel transfer partners, a standard feature on most competing premium travel cards.
- Cardholders are limited to redeeming points for travel through the bank's proprietary portal, which can be restrictive for travelers who prefer booking directly.
- The card carries a high annual fee, yet its rewards-earning rates are no better than its less-expensive sibling card.
Bank of America® Premium Rewards® Elite vs American Express® Business Gold Card
Categories
Deciding which is better, Amex Business Gold or Bank of America Premium Rewards Elite, depends entirely on your spending habits and what you value in a credit card. These two cards cater to very different users, one focusing on business expenses and the other on luxury travel.
- American Express® Business Gold Card - This card is best suited for business owners and is designed as a versatile tool for growing companies with variable expenses across multiple categories.
- Bank of America® Premium Rewards® Elite - This card falls squarely in the premium travel category, aimed at frequent travelers who value luxury perks and benefits during their journeys.
Redemption
American Express® Business Gold Card: This card’s points program is built for flexibility, allowing you to redeem rewards for travel, transfer them to various airline and hotel partners, or apply them as statement credits.
Bank of America® Premium Rewards® Elite: Rewards are geared toward travel and lifestyle, offering elevated value when redeemed for flights through the travel center or as statement credits against travel and dining purchases.
Compare Top Rated Credit Cards with Kudos
To make the right choice, a tool like Kudos can be invaluable, offering a data-driven way to compare thousands of credit cards based on your personal spending.
- Test drive credit cards: Before you apply, you can simulate your potential earnings with a new card using your actual spending history, giving you a clear picture of its value.
- Welcome offer guarantee: If you find a better welcome offer within three months of approval through Kudos, the platform will match it.
- Detailed approval odds: Get a personalized analysis of your chances of getting approved for a card based on your credit report.
- Kudos Boost: Earn extra rewards on top of your credit card points when you shop at participating stores through the platform.
- Financial tracking: Monitor your transactions, spending habits, and credit score all in one place.
Who Should Choose the American Express® Business Gold Card?
The American Express® Business Gold Card is designed for business owners with significant and variable expenses, particularly those spending over $50,000 annually. It’s an excellent fit for companies whose top spending categories change, as it automatically provides 4X Membership Rewards® points on the top two eligible spending categories each billing cycle, on up to $150,000 in combined purchases per year (then 1X). This card best serves entrepreneurs and growing businesses that can maximize the flexible rewards structure and take advantage of its travel and purchase protections. Terms Apply.
Who Should Choose the Bank of America® Premium Rewards® Elite?
The Bank of America® Premium Rewards® Elite credit card is best suited for frequent travelers who are already deeply invested in the Bank of America ecosystem, particularly Preferred Rewards members with significant balances. These cardholders value a simple rewards structure and can easily maximize the card's annual travel and lifestyle credits to offset its high annual fee. However, it's less ideal for rewards maximizers who prioritize transferring points to airline and hotel partners, as the card lacks this feature entirely.
Alternatives to Consider
If our Amex Business Gold vs Bank of America Premium Rewards Elite comparison has left you undecided, don't worry. There are several other excellent cards on the market that might be a better match for your spending habits and goals.
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Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
Tips for Application Success
Before You Apply
- Check your credit score as premium cards typically require a good to excellent credit history.
- Analyze your spending habits to see if your top purchase categories align with the card’s bonus rewards.
- Have a redemption plan, as some cards offer flexible transfer partners while others are best for cash back or direct travel bookings.
Application Strategy
- Leverage your banking history - Some issuers offer loyalty bonuses to existing customers.
- Apply for the right card type - Be aware that some cards are designed exclusively for business owners.
- Evaluate redemption flexibility - Not all cards allow you to transfer points to airline and hotel partners.
Our Methodology
We evaluate nearly 3,000 credit cards across the U.S. market — far more than the ~150 cards commonly featured on sites that focus only on products tied to affiliate commissions. Our goal is to provide a comprehensive, unbiased view of the credit card landscape so you can make confident, data-driven decisions.
Our editorial team combines deep industry experience with rigorous verification standards. While our experts surface the most relevant recommendations in our guides, you can also explore the full dataset yourself through our card explorer tool, which includes thousands of cards — more than 95% of which do not provide us with commissions.
Frequently Asked Questions
What credit score do I need for the Amex Business Gold or Bank of America Premium Rewards Elite card?
Both cards generally require a good to excellent credit score, typically 670 or higher. However, issuers consider other factors like your income and existing debt when evaluating your application.
Can I have both the American Express® Business Gold Card and the Bank of America® Premium Rewards Elite card?
Yes, you can apply for and hold both cards simultaneously, provided you meet the eligibility requirements for each. This can be a good strategy to maximize rewards across different spending categories.
Do the rewards earned with these cards expire?
American Express Membership Rewards points do not expire as long as your account is open and in good standing. Similarly, Bank of America points do not expire while your account remains active. Terms apply.
Are there foreign transaction fees on either card?
No, neither the American Express® Business Gold Card nor the Bank of America® Premium Rewards Elite card charges foreign transaction fees. This makes both options suitable for international travel and purchases.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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